Which of the following is a current asset that is expected to be converted to cash,sold,or consumed during the next year (or the normal operating cycle,if longer)?
A) Land
B) Equipment
C) Building
D) Accounts receivable

Question

Quizplus · Accepted Answer

Accounts receivable is a current asset as it is expected to be converted into cash within the next year or operating cycle. Land, equipment, and buildings are long-term assets and are not expected to be converted into cash or sold within the next year or operating cycle.

Which of the Following Is a Current Asset That Is